Zacks: Brokerages Anticipate SailPoint Technologies Holdings, Inc. (NYSE:SAIL) Will Announce Quarterly Sales of $91.58 Million


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Analysts expect SailPoint Technologies Holdings, Inc. (NYSE:SAIL) to announce $91.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for SailPoint Technologies’ earnings. The highest sales estimate is $92.30 million and the lowest is $91.00 million. SailPoint Technologies posted sales of $75.44 million during the same quarter last year, which suggests a positive year over year growth rate of 21.4%. The company is scheduled to issue its next earnings results after the market closes on Monday, May 10th.

According to Zacks, analysts expect that SailPoint Technologies will report full-year sales of $412.42 million for the current year, with estimates ranging from $407.90 million to $422.60 million. For the next year, analysts expect that the business will post sales of $473.38 million, with estimates ranging from $456.00 million to $486.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for SailPoint Technologies.

SailPoint Technologies (NYSE:SAIL) last posted its quarterly earnings results on Thursday, February 25th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.15. The firm had revenue of $103.34 million during the quarter, compared to the consensus estimate of $94.69 million. SailPoint Technologies had a positive return on equity of 4.35% and a negative net margin of 0.18%.

Several research analysts have recently commented on SAIL shares. Zacks Investment Research downgraded SailPoint Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, March 3rd. Morgan Stanley lifted their target price on SailPoint Technologies from $71.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, March 8th. Canaccord Genuity lifted their target price on SailPoint Technologies from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 16th. Truist lifted their target price on SailPoint Technologies from $55.00 to $65.00 in a research note on Wednesday, January 27th. Finally, Royal Bank of Canada boosted their price target on SailPoint Technologies from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, January 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. SailPoint Technologies has a consensus rating of “Buy” and a consensus price target of $55.00.

Shares of NYSE SAIL traded down $0.94 during midday trading on Thursday, hitting $48.47. 2,538,761 shares of the company’s stock were exchanged, compared to its average volume of 1,117,784. SailPoint Technologies has a 12 month low of $16.05 and a 12 month high of $64.19. The company’s 50 day moving average price is $54.39 and its 200 day moving average price is $51.02. The firm has a market capitalization of $4.46 billion, a PE ratio of -4,842.16 and a beta of 2.01.

In other news, CAO Eric Domagalski sold 1,619 shares of the business’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $57.65, for a total transaction of $93,335.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark D. Mcclain sold 20,000 shares of the business’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $56.65, for a total value of $1,133,000.00. Following the transaction, the chief executive officer now directly owns 1,105,381 shares of the company’s stock, valued at approximately $62,619,833.65. The disclosure for this sale can be found here. Insiders sold a total of 77,952 shares of company stock valued at $4,592,148 over the last ninety days. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of SAIL. Great West Life Assurance Co. Can raised its holdings in shares of SailPoint Technologies by 679.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 52,800 shares of the company’s stock worth $30,000 after buying an additional 46,022 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in SailPoint Technologies by 6.2% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 102,918 shares of the company’s stock worth $4,072,000 after acquiring an additional 5,998 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in SailPoint Technologies by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 587,749 shares of the company’s stock worth $23,258,000 after acquiring an additional 14,172 shares during the last quarter. Truist Financial Corp bought a new stake in SailPoint Technologies during the 3rd quarter worth $218,000. Finally, Engineers Gate Manager LP bought a new stake in SailPoint Technologies during the 3rd quarter worth $1,382,000.

SailPoint Technologies Company Profile

SailPoint Technologies Holdings, Inc provides enterprise identity security solutions in the United States, Europe, the Middle East, Africa, and internationally. The company offers software and software as a service (SaaS) solutions, which help organizations to govern the digital identities of employees, contractors, business partners, software bots, and other human and non-human users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments, spanning on-premises, cloud and mobile applications, and file storage platforms.

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